NY-IFF
31.5.2023 22:16:35 CEST | Business Wire | Press release
IFF (NYSE:IFF) today announced that it has successfully completed the previously announced divestiture of its Savory Solutions business unit to PAI Partners (PAI), a leading global private equity firm with a strong focus on the food and consumer industry.
Under PAI ownership, Savory Solutions Group has been rebranded to NovaTaste, a global leader in taste innovation with headquarters in Salzburg, Austria.
“The sale of IFF’s Savory Solutions Group represents our continued efforts to optimize our portfolio as we focus on core businesses and strengthen our capital structure,” said Frank Clyburn, IFF CEO. “We remain steadfast in our commitment to further pursue portfolio optimization opportunities as we drive toward our deleverage target by the end of 2024. We’re grateful to our Savory Solutions colleagues, who have demonstrated their commitment to innovation, service and quality. We wish them the best in their new journey.”
Cautionary Statement under the Private Securities Litigation Reform Act of 1995
This press release contains “forward-looking statement” within the meaning of the federal securities laws, including Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” “pursue,” “drive” similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about our deleverage target and portfolio optimization. The forward-looking statements included in this release are made only as of the date hereof, and we undertake no obligation to update the forward-looking statement to reflect subsequent events or circumstances.
Welcome to IFF
At IFF (NYSE: IFF), an industry leader in food and beverage, fragrance, home and personal care, and health and wellness. Innovation is at the heart of IFF’s purpose of applying science and creativity to create a better world – from global icons to unexpected experiences. We are an international collective of thinkers who develop some of the most groundbreaking products in our industry and partner with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we work to design products that offer a positive contribution to people, society and the world around us.
Learn more at iff.com, Twitter , Facebook, Instagram, and LinkedIn.
© 2023 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230531005869/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Sultan bin Ahmed visits Huawei R&D Centre and SMG in China13.2.2026 18:52:00 CET | Press release
His Highness Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Chairman of the Sharjah Media Council, visited the Huawei Research and Development Centre and Shanghai Media Group (SMG) in Shanghai, People’s Republic of China. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260213682693/en/ Sultan bin Ahmed visits Huawei R&D Centre and SMG in China (Photo: AETOSWire) His Highness toured Huawei Village, which spans 2.2 million square metres and comprises over 100 buildings and laboratories, employing more than 30,000 staff. He observed the master plan of the village and its key facilities that support the company’s business strategy and product development. He also reviewed the specifications of the buildings, constructed to the highest standards, and the diverse services provided to employees, including restaurants, cafes, entertainment venues, and rest areas. The center also offers easy access via train
Andersen Global tilføjer samarbejdsfirmaet Pi Advisory13.2.2026 17:23:00 CET | Pressemeddelelse
Andersen Global styrker sine kompetencer i Afrika gennem en samarbejdsaftale med Pi Advisory, et finansielt rådgivningsfirma baseret i Angola og med afdelinger i Mozambique og Portugal. Pi Advisory tilbyder en bred række af ydelser, herunder fuld skatteservice, forretningssupport og outsourcing, finansiel rådgivning samt en bred vifte af selskabsrelaterede ydelser, der hjælper kunder med alt fra etablering af nye virksomhedsenheder til at navigere i lokale skatteregler. Firmaet integrerer principper for miljø-, samfunds- og ledelsesmæssige forhold (ESG) i sin drift, hvilket afspejler dets engagement i en bæredygtig forretningspraksis. "Dette samarbejde styrker vores evne til at støtte kunder med komplekse behov på tværs af jurisdiktioner," udtalte António Amaral Correia, partner hos Pi Advisory. "Gennem vores samarbejde med Andersen Global kan vi levere løsninger, der imødekommer de skiftende krav fra kunder på de portugisisktalende markeder såvel som globalt." Mark L. Vorsatz, global
Volue Welcomes TA Associates as New Strategic Investor13.2.2026 11:15:00 CET | Press release
Partnership Strengthens Volue’s Position as a European Leader in Electrification Technology Volue, a global leader in electrification and energy technology, today announced that TA Associates (“TA”), a leading global private equity firm, has joined as a new strategic investor alongside Advent International (“Advent”), Generation Investment Management (“Generation”) and Arendals Fossekompani. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260213436945/en/ Over the past 18 months, Volue has undergone a strategic transformation to sharpen its focus on the energy sector. During this period, Volue divested non-core activities and invested in targeted R&D innovation and strategic acquisitions to further position Volue as a leading provider of integrated technology solutions for power trading and generation, grid optimization, and energy market intelligence. Operating at the center of one of the most mission-critical markets of our
ABB strengthens electrical engineering advisory capabilities in Europe with Premium Power acquisition13.2.2026 10:30:00 CET | Press release
Acquisition strengthens ABB’s ability to deliver system-level advisory support at scale to help critical industries manage increasingly complex electrical infrastructures and safeguard energy resilience Enhances ABB’s Electrification Service division offering in power system studies, grid modelling and electrical risk management for data centers, pharmaceuticals and other critical industries Solidifies ABB at the electrical system level, embedding trusted advisory expertise at the point where operational risks, resilience and performance are defined ABB today announced it has entered into an agreement to acquire Premium Power, a leading electrical engineering consultancy headquartered near Dublin, Ireland. For more than two decades, Premium Power has established its reputation as a trusted advisor to large customers, particularly in data centers, pharmaceutical manufacturing and other mission-critical sectors where electrical resilience, uptime and regulatory compliance are essential.
EnergyAustralia, Enerven and NHOA Energy Mark Financial Close and Project Launch of the 245 MWh Hallett Battery in South Australia13.2.2026 08:00:00 CET | Press release
The project will support grid stability in the National Electricity Market, strengthening NHOA Energy’s long-term commitment to the Australian market NHOA Energy, global provider of utility-scale energy storage systems, today marked together with EnergyAustralia and Enerven the official project launch of a 245 MWh Battery Energy Storage System (BESS) in Hallett, near the town of Canowie, in South Australia, following the achievement of financial close and the project’s transition into the delivery phase. The milestone was announced today during a project launch ceremony held at the Hallett Power Station, attended by representatives of EnergyAustralia, Enerven, NHOA Energy, government, Traditional Owners and local community stakeholders. Owned and developed by EnergyAustralia, the Hallett BESS is being built alongside the existing Hallett gas-fired power station and represents the first stage of a broader site development. As delivery partner for Stage 1 of the project, NHOA Energy will
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom